aj485’s Activity

Wed Jan 28

NL

Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 4:00 AM

Re: Don't want bankruptcy, other options? sorry,

The only person I felt sorry for was the daughter, who was hit at the last minute with, "we can't afford college, sorry."

She still went to college - but a less expensive in-state school, rather than the expensive [more]

Tue Jan 27

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aj485 replied to the Credit Cards and Consumer Debt board. 5:48 PM

Re: Don't want bankruptcy, other options? sorry,

Wasn't that what Calidreaming did? Every time she and her husband got really low on money, and the credit cards were maxed out, she would go to school and take out the maximum in student loans, then continue to spend, spend, [more]

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aj485 replied to the Retirement Investing board. 11:48 AM

Re: Roth IRA limit

I don't exactly follow the highly compensated employee rule thing. The $120k represents he salary I assume..??

Yes. You are considered a 'highly compensated employee' if you make more than $120/year in 2015.

And if so [more]

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aj485 replied to the Credit Cards and Consumer Debt board. 11:25 AM

Re: Don't want bankruptcy, other options? sorry,

OP indicated she was taking course work online.

Most accredited full time 'online' degree programs (as the OP indicated she was pursuing) that I am aware of are not completely 'online' - they have some type of meetings/touchpoints [more]

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aj485 replied to the Retirement Investing board. 2:42 AM

Re: Traditional 401k vs. Roth 401k

I'm kinda in the same boat as you are, except I'm retiring this year and am contemplating turning all of my IRA assets over to my Roth IRA at Ameritrade. The reason? I finally accepted that only half of my IRA is mine, the rest is basically the [more]

Mon Jan 26

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aj485 replied to the Retirement Investing board. 8:56 PM

Re: Roth IRA limit

How about contributing to my roth 401k at work? Is that excluded as well?

No. 401(k)s are separate from IRAs and have different contribution rules. People who are not eligible to contribute to a Roth IRA are often eligible to [more]

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aj485 replied to the Credit Cards and Consumer Debt board. 8:40 PM

Re: Don't want bankruptcy, other options? sorry,long

Sorry, I missed some of this when I first read your post......

In the meantime, I've finally stopped dodging collections calls and am setting up payment plans with them, as we are expecting a decent tax return plus my student loan money [more]

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aj485 replied to the Foolish 401(k)s board. 1:13 AM

Re: 401(k)/IRA annual contribution limits

Just wondering if the $58,000 total contribution limits include non-employer based IRAs. Without that extra $6500 IRA contribution we will not go over the $58,000 limits. Still early in the year so if I mess it up now, I have time to correct [more]

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aj485 replied to the Budgeting board. 12:58 AM

Re: First Time Investor, Small budget

This is quite possibly a very silly question: I have a very small amount of savings and am willing to invest it. I will probably have to keep to one investment at a time, as my budget is small (please correct me if I'm wrong). On average, how much [more]

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 12:41 AM

Re: Don't want bankruptcy, other options? sorry,long

Well, you've pretty much come to the conclusion that BK isn't really an option, so you need to focus on repayment. In order to do that, you have to figure out your income and your outgo, and see if you have enough income to meet the required outgo. [more]

Sun Jan 25

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Boards Post

aj485 replied to the Buying or Selling a Home board. 11:28 PM

Re: Paying off Parents Mortage

I have accumulated more cash than I like to have on hand and want to give back to my parents for my college and help with financial assistance over the years. Is there any way to pay off their mortgage and have the note and interest paid back by [more]

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aj485 replied to the Buying or Selling a Home board. 10:54 PM

Re: pay off mortgage?

I'm 63 and […] live in a home in a desirable neighborhood. […] It's worth about 900k and we owe 127k.

Check this out, Joe, and good luck.

To Avoid Outliving Your Money, Take a HECM Reverse Mortgage Before Interest Rates
[more]

Sat Jan 24

NL

Boards Post

aj485 replied to the Retirement Investing board. 2:09 PM

Re: Roth IRA limit

I make over $129,000 a year and don't file jointly with my wife.

So, just to be clear - you file as Married, Filing Separately?

From what I understand I'm not allowed to contribute to a Roth.

With a gross [more]

Fri Jan 23

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 2:49 AM

Re: How did they do it?

So what I want to know, what are they swiping that has my debit card number on it? How did they get my debit card number?

One of your new cards was probably 'skimmed' somewhere, and/or there was another breach affecting your account [more]

Mon Jan 19

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Boards Post

aj485 replied to the Tax Strategies board. 2:01 PM

Re: Converting to a Roth with a Twist

Say I've contributed to a traditional IRA for 30 years but that contribution has NEVER been tax deductible. IIRC, I can take those contributions out tax free.

Your recall is mostly correct, but the devil is in the details. What [more]

Wed Jan 7

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aj485 replied to the Retirement Investing board. 2:22 PM

Re: Roth Conversion Question

You are correct. I've been pouring over 72(t)/SEPP information for the last year or so once I realized ER is within reach. I'm going to pull out the maximum the SEPP rules will allow even though I may not spend it all. I'm going to start with [more]

Tue Jan 6

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Boards Post

aj485 replied to the Credit Cards and Consumer Debt board. 7:27 PM

Re: New Year Update

Wow, you've paid off 87.5% of your debt in a year, and what's left is only costing you $18 a month in interest, compared to the $180 a month in interest you were paying this time last year. That's great!

AJ

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Boards Post

aj485 replied to the Retirement Investing board. 5:41 PM

Re: Roth Conversion Question

I want to know if I take out 70k from my IRA in 2015 for living expenses, how much $ can I convert from my TIRA to a Roth IRA without going into the 25% marginal tax bracket.

If you are taking 72(t)/SEPP distributions, have you [more]

Mon Jan 5

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Boards Post

aj485 replied to the Buying or Selling a Home board. 1:10 PM

Re: pay off mortgage?

Most of my IRAs are in index funds. Some of my 401k is in international funds, and small cap funds. And I have 100k in stocks. I like index funds and I may put some obey there, I dabbled in commodities several years back and didn't seem to go [more]

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aj485 replied to the Buying or Selling a Home board. 3:04 AM

Re: pay off mortgage?

And then the other larger question is what to do with the funds from selling this place that don't go into the mew place? Bonds? Mix of stocks and bonds while sticking as much as possible every year into a retirement fund (IRA or personal business [more]

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Big gold star, 5000 posts Feste Award Nominee! Old School Fool
Board Posts 8493
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Recs to Posts Ratio (last 30 days) 8.20
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Very First Post Re: Attention all Immigrants denied credit (6/17/1999)
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